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Question 114
A sum of Rs.8,400 invested under simple interest at rate of 11% p.a. If the amount after 5 years is been withdrawn and half of the total amount is been invested in Share market. Find the remainingamount. (in Rs)
Solution
AMOUNT(A) = PRINCIPAL(P) + SIMPLE INTEREST(SI)
A = P + PRT/100
A = 8400 + 8400*11*5/100 = RS. 13020
AMOUNT REINVESTED = A/2 (GIVEN)
AMOUNT REINVESTED = 13020/2 = RS. 6510
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